Business, international

Shoppers pay $1bn up front

Article Abstract:

According to estimates from Hong Kong's Consumer Council spending on prepayment and coupon schemes totals around HK$ 1bn, with the increasing interest in these schemes attributed to the attraction of discounts and free gifts. Main areas of prepayment include beauty salons, health clubs, magazine subscriptions, the Octopus travel card and department store vouchers. The Council has highlighted the risks of buying coupons in the light of the decision by video chain to invalidate all outstanding coupons, currently estimated at HK$ 36mn, from November 1998 because of cash problems.

Compass hopes to prove high-tech has home inHK

Article Abstract:

Compass Technology of Hong Kong, established in June 1997, is planning to begin production of tailor-made chip casings for telecoms companies by the end of October 1998, with output to increase from an initial level of 1mn units per month to 5-6mn units per month by the year 2000. Talks are underway with banks to raise HK$ 75mn needed towards capital expenditure, while future plans include a Nasdaq listing in 2000. *

Comment:

Plans to begin production of tailor-made chip casings for telecoms companies by the end of 10/98